Navistar (NYSE: NAV) reported Q2 EPS of $0.55, $0.22 better than the analyst estimate of $0.33. Revenue for the quarter came in at $2.42 billion versus the consensus estimate of $2.44 billion.

"We had a great second quarter, delivering stronger than expected results by taking advantage of the robust market conditions," said Troy A. Clarke, Navistar chairman, president and chief executive officer. "The market continues to respond favorably to our new products, especially our LT Series on highway tractor and the 13-liter A26 engine, which helped us capture two points of year-over-year share growth in the Class 8 segment."

Navistar ended second quarter 2018 with $1.14 billion in consolidated cash, cash equivalents and marketable securities. Manufacturing cash, cash equivalents and marketable securities were $1.10 billion at the end of the quarter. "We are also pleased to report that on a trailing 12 month basis, we were manufacturing free cash flow positive by nearly $100 million," Clarke added.

Based on stronger industry conditions, the company raised its 2018 full-year guidance:

• Industry retail deliveries of Class 6-8 trucks and buses in the United States and Canada are forecast to be 380,000 units to 410,000 units, with Class 8 retail deliveries of 250,000 to 280,000 units.
• Navistar revenues are expected to be between $9.75 billion and $10.25 billion.
• The company\'s adjusted EBITDA is expected to be between $725 million and $775 million.
• Year-end manufacturing cash is expected to be about $1.2 billion.

"The work we\'ve done in the first half of the year growing Class 8 share, building our backlog and managing costs, combined with strong industry conditions, positions us to deliver an even stronger second half," Clarke said.

GUIDANCE:

Navistar sees FY2018 revenue of $9.75-10.25 billion, versus the consensus of $9.64 billion.

For earnings history and earnings-related data on Navistar (NAV) click here.